1H2017 Market portfolio (MNB)

1Q2017 Market portfolio (MNB)

CIG Pannonia Life Insurance notifies its Esteemed Shareholders and other capital market participants that the general meeting of Pannonia General Insurance decided to transfer the home insurance, condominium insurance and compulsory vehicle liability insurance portfolio to Aegon Hungary General Insurance with the effect from the date of the supervisory authorization.

Policyholders of unit-linked life insurance products pay an agreed sum for the unit-linked insurance to the insurance company, as a regular premium, or in one lump sum. These payments cover the life insurance component as well as the investment, administrative costs, contracting fee and the commissions. The "total cost charged" ("TCC") is an indicator - calculated in line with the rules of Hungarian insurance regulations - showing all costs charged on life insurance policies having a savings element, reflected as a percentage value. The regulation of the TCC in Hungary has been amended effective 1 January 2017.

Belgium's KBC Group booked net income of EUR 23 million at its business in Hungary in the fourth quarter, down from EUR 42 mln in the same period a year earlier as income tax expenses jumped, state news agency MTI has reported, citing an earnings report released today.

Hungarian insurers' GWP for 3Q2016 amounted to EUR 2.16 billion, 4.6% up y-o-y, the non-life segment being the growth driver, especially due to the double digit increase witnessed on the MTPL insurance line. In fact, the market evolution in 3Q maintained the same trend as in the previous quarters.

Hungary's National Economy Ministry has submitted a new tax package to Parliament on October 28, providing for the 6% healthcare contribution on interest income removal for different financial product, including life insurance policies that held at least 80% of their assets in forint-denominated government securities, reports Portfolio.hu.

AXA announced today that it had completed the sale of its Hungarian banking operations to OTP bank plc. This transaction is the final step in the repositioning of AXA Bank Europe as a fully focused Belgian retail bank, serving almost one million clients and operating jointly with AXA Insurance in Belgium.

Hungarian insurers' GWP for 1H2016 amounted to EUR 1.45 billion, 2.8% up y-o-y, the non-life segment being the growth driver, especially due to the double digit increase witnessed on the MTPL insurance line.